BTA shareholders are fortunate that BTA had so many good products in the pipeline including the strong Relenza royalties.
Does the CEO & his management team know what they are doing? He down graded profit from in “excess of $18M” to “exceeding $17M” and ended up reporting an after-tax profit in excess of $20M.
BTA had $46.2M cash at the beginning of the year increasing to $62.2M at the end of the year, yet it earned a miserly $2.7M in interest. It had $22M cash-at-call to manage $6.6M of trade payables.
It is only by good fortune that the company is doing well and they then reward themselves with bonuses. If these guys run a deli store, it will go broke in no time.
IF BTA is to sack all their staff and just kept the bank account open, it will make close to $40M profit just from the Relenza royalties. It is time to demand a repayment of capital back to shareholders.
BTA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
